The list of Saks Global unsecured creditors is a who’s who of luxury brands and their amounts owing are high end. The top 30 unsecured creditors have claims totalling $712 million. The retailer owes $3.4billion to tens of thousands of creditors, large and small.
Creditors had faced delayed payment from the company over the last number of months, a classic early warning signal of financial difficulties trade credit insurance providers would noted to their policy holders. Read more from Insurance Business on what insurers are watching for as the company restructures.
